717 E Gulf Blvd · Indian Rocks Beach, FL 33785

$999,999

12 bd · 3.0 ba · 2,100 sqft · MultiFamily public records · 170 Days on market

Built 1959 5,624 sqft lot

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +22.9/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• Appreciation +5.6/10.0
• 1% rule +5.3/10.0
• Schools +4.3/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Fantastic waterfront a block from the beach! Use one unit for your paradise retreat while renting the others! Current renters have been there for several years and are month to month. Back unit has washer & dryer hookup in the unit w a separate washer and dryer hookups for the other 2 units. Occupied so please allow 24 hour notice to see the units. Please don’t bother the tenants.

Key facts

• Waterfront views
• Remodeled bathrooms
• 5,624 sq ft lot

Tags

• FULLY RENOVATED UNITS
• CONTEMPORARY KITCHENS
• REMODELED BATHROOMS
• IN-UNIT WASHER DRYERS
• PREMIER BEACHSIDE LOCATION
• WATERFRONT VIEWS

Property features AI

Finance

• Other: No lease restrictions indicated
• Financial info: Annual net income reported: $60,000; Triplex with three units (unit-level pro forma rents listed in unit breakdown)
• HOA & community: No association / HOA

Exterior

• Parking: Paved access/driveway (asphalt)
• Security: Smoke detector(s)
• Utilities: Public water (water connected, multiple meters); Public sewer (sewer connected); Electricity available and connected; Cable available
• Home design: Residential income property (triplex); Attached property; One building (new construction indicated)
• Construction: Block construction; Other-type roof; Slab foundation; Built/new construction
• Exterior features: Covered patio/porch; Front porch; Patio; Porch; Exterior lighting; Private mailbox; Sidewalk; On waterfront with canal and Intracoastal Waterway access; Water access via saltwater canal; No-wake zone and concrete seawall

Interior

• Kitchen: Convection oven; Cooktop; Range; Microwave; Dishwasher; Refrigerator; Ice maker; Solid surface and stone counters; Solid wood cabinets
• Bedrooms: Total of 4 bedrooms across units (individual unit counts listed in unit breakdown)
• Flooring: Linoleum
• Bathrooms: Bathrooms as noted per unit in unit breakdown
• Heating & cooling: Central heating; Electric heating; Heat pump; Central air conditioning
• Interior features: Ceiling fans; Open floorplan; Kitchen/family room combo; Living room/dining room combo; Split bedroom layout; Solid surface counters; Stone counters; Solid wood cabinets; Thermostat; Walk-in closets; Window treatments; Blinds; Double pane windows; Storm windows; Smoke detector(s)
• Laundry & utility: Washer hookup; Dryer hookup (electric); Inside laundry; Laundry closet; Laundry room; Electric water heater

What this means for you Summary

Snapshot

• This is a 3 × 4-bed/3.0-bath units multifamily listed at $1000k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $443/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $1000k).
• Recommended offer: $880k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#315 in FL) — a middle-class / working-renter tenant base. Strengths: health & safety A+, commute A, crime A-; Watch: amenities F, cost of living F.
• Pinellas (suburban): math 51% / reading 51% proficiency, ranked #31 of 73 in FL (top 42%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Ozona Elementary School (math 73% / reading 66%, grade A-, #364 of 2,144 statewide, top 19%, 762 students, 31% FRL); Seminole High School (math 26% / reading 47%, grade F, #351 of 667 statewide, top 54%, 1,546 students, 39% FRL).
• Market conditions: 245 active listings in the ZIP; solid renter incomes; 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).

Forward outlook

• In year one you build about $18k of equity ($7k loan paydown + $11k appreciation (1.1% local appreciation)).
• Pinellas County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (1.1% appreciation + 3.0% rent growth), your $280k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$65k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 170 days — a 12% lower offer ($880k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y ago; this cycle's ask has dropped $150k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $855k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $879,999 (12.0% below list)

Questions for the listing agent

1. It's been on market 170 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.03% ✓
• Cap rate: 8.40%
• Cash-on-cash: 7.53%
• DSCR: 1.33
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.11% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.6%
• Equity multiple: 1.39×
• Total profit: $108,885
• Equity at exit: $347,141

10-year hold

• IRR: 11.6%
• Equity multiple: 2.42×
• Total profit: $398,647
• Equity at exit: $465,804

Cash invested: $280,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 33785

• Home prices YoY: 0.3%
• Active inventory: 245
• Price-to-rent: 24.4×

Monthly cashflow live

• Estimated rent: $10,256 medium
• Mortgage (P&I): −$5,244
• Tax from tax record: −$685 /mo · $8,220/yr
• Insurance: −$417
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,154
• Net cashflow: $1,330

Break-even live

Break-even rent $8,573

Max offer price $999,999

Occupancy floor 82%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	4	3	$10,257
Total (3 units)			$10,256

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $250,000
• Closing costs: $30,000
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-18
   days on market $999,999 Active 170 DOM
2. 2026-06-17
   days on market $999,999 Active 169 DOM
3. 2026-06-16
   days on market $999,999 Active 168 DOM
4. 2026-06-15
   days on market $999,999 Active 167 DOM
5. 2026-06-13
   days on market $999,999 Active 165 DOM
6. 2026-06-09
   days on market $999,999 Active 161 DOM
7. 2026-06-08
   days on market $999,999 Active 160 DOM
8. 2026-06-07
   days on market $999,999 Active 159 DOM
9. 2026-06-04
   days on market $999,999 Active 156 DOM
10. 2026-06-03
    remarks 683-char remark
11. 2026-06-03
    pricedays on market $999,999 Active 155 DOM
12. 2026-06-01
    days on market $1,059,900 Active 153 DOM
13. 2026-05-31
    days on market $1,059,900 Active 152 DOM
14. 2026-05-05
    price $1,059,900
15. 2026-03-12
    price $1,099,999
16. 2026-02-27
    price $1,130,900
17. 2025-12-30
    listed $1,149,900 Active
18. 2023-08-03
    historical
19. 2023-06-24
    price $1,299,900
20. 2023-05-25
    price $1,399,999
21. 2023-03-30
    listed $1,499,000 Active
22. 2021-11-10
    soldstatus $855,000
23. 2021-11-08
    soldstatus $855,000 Closed 397-char remark

    Show marketing remark (397 chars)

    Fantastic waterfront a block from the beach! Use one unit for your paradise retreat while renting the others! Current renters have been there for several years and are month to month. Back unit has washer & dryer hookup in the unit w a separate washer and dryer hookups for the other 2 units. Occupied so please allow 24 hour notice to see the units. Please don’t bother the tenants.

24. 2021-10-04
    status Pending 397-char remark

    Show marketing remark (397 chars)

    Fantastic waterfront a block from the beach! Use one unit for your paradise retreat while renting the others! Current renters have been there for several years and are month to month. Back unit has washer & dryer hookup in the unit w a separate washer and dryer hookups for the other 2 units. Occupied so please allow 24 hour notice to see the units. Please don’t bother the tenants.

25. 2021-09-09
    listed $899,000 Active 397-char remark

    Show marketing remark (397 chars)

    Fantastic waterfront a block from the beach! Use one unit for your paradise retreat while renting the others! Current renters have been there for several years and are month to month. Back unit has washer & dryer hookup in the unit w a separate washer and dryer hookups for the other 2 units. Occupied so please allow 24 hour notice to see the units. Please don’t bother the tenants.

26. 2013-05-31
    soldstatus $276,150
27. 2013-03-23
    listed $300,000
28. 1998-12-15
    soldstatus $342,500
29. 1994-05-17
    soldstatus $200,000
30. 1989-04-03
    soldstatus $155,000
31. 1986-12-10
    soldstatus $130,000
32. 1986-11-26
    soldstatus $130,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $8,220 · $685/mo
• Projected year-2 tax: $8,300 · $692/mo
• Expected delta: +$80/yr (+$7/mo · 1.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 25 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $123,072
• − Mortgage interest: −$56,015
• − Property taxes: −$8,220
• − Insurance: −$10,118
• − Repairs & maintenance: −$9,846
• − Management: −$9,846
• − Depreciation: −$29,091
• Taxable loss: −$65
• Est. tax savings @ 24.0%: +$16
• After-tax cash flow: $15,974/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Pinellas
• NCES district ID: 1201560
• Math proficiency: 51% ▼ -5.00%
• Reading proficiency: 51% ▼ -3.00%
• Median HH income: $46,270
• Composite: 43.27/100
• National rank: #3046
• State rank: #31 of 73 in FL

Livability — Indian Rocks Beach

• Score: 73/100
• State rank: #315
• US rank: #5348

Category grades

Amenities F Commute A Cost of living F Crime A- Employment A- Housing C Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Indian Rocks Beach, FL
• County: Pinellas County · 939,478 people
• City population: 4,907
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 4,907
• Household income: $101,356
• Rent vs Own: 21.3% rent · 78.7% own
• Severe rent burden: 130.0

Population outlook (Pinellas County) Hauer SSP2

• Today (2025): 1,027,532 people
• By 2030: 1,063,586 · +3.5%
• By 2040: 1,125,020 · +9.5%
• By 2050: 1,168,637 · +13.7%
• By 2075: 1,265,188 · +23.1%
• By 2100: 1,260,357 · +22.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 7% Two or more races 4% Asian 4%
• Hispanic origin (detail): Puerto Rican 1% Cuban 3%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 3%
• Foreign-born: 10% · Canada, China, Jamaica
• Languages at home: 93% English-only · Spanish 3% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Pinellas

• 2024 margin: Lean R (+5.2) · D 46.9% · R 52.1%
• 2008→2024 swing: -13.5pp toward R · 2008: 8.3pp · 2024: -5.2pp
• All cycles: 2024: R+5.2 2020: D+0.2 2016: R+1.1 2012: D+5.6 2008: D+8.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.11%
• Current HPI: 384.4452
• Rent YoY: —
• Metro: Tampa-St. Petersburg-Clearwater, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+715.3% since first listed

19 events — show timeline

• 2026-05-05 Price Changed $1,059,900 Stellar MLS as Distributed by MLS Grid
• 2026-03-12 Price Changed $1,099,999 Stellar MLS as Distributed by MLS Grid
• 2026-02-27 Price Changed $1,130,900 Stellar MLS as Distributed by MLS Grid
• 2025-12-30 Listed $1,149,900 Stellar MLS as Distributed by MLS Grid
• 2023-08-03 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2023-06-24 Price Changed $1,299,900 Stellar MLS as Distributed by MLS Grid
• 2023-05-25 Price Changed $1,399,999 Stellar MLS as Distributed by MLS Grid
• 2023-03-30 Listed $1,499,000 Stellar MLS as Distributed by MLS Grid
• 2021-11-10 Sold (Public Records) $855,000 Public Records
• 2021-11-08 Sold (MLS) $855,000 Stellar MLS as Distributed by MLS Grid
• 2021-10-04 Pending — Stellar MLS as Distributed by MLS Grid
• 2021-09-09 Listed $899,000 Stellar MLS as Distributed by MLS Grid
• 2013-05-31 Sold (MLS) $276,150 Stellar MLS as Distributed by MLS Grid
• 2013-03-23 Listed $300,000 Stellar MLS as Distributed by MLS Grid
• 1998-12-15 Sold (Public Records) $342,500 Public Records
• 1994-05-17 Sold (Public Records) $200,000 Public Records
• 1989-04-03 Sold (Public Records) $155,000 Public Records
• 1986-12-10 Sold (Public Records) $130,000 Public Records
• 1986-11-26 Sold (Public Records) $130,000 Public Records

Property tax history

+2.7%/yr

Latest (2025): $8,220 · -40.9% YoY. Source: county tax records.